How do I sell gold coins and jewelry for cash?

[Anonymous]

I mean legitimately, not one of those sleazy pawn shop places. I got gold coins and diamond jewelry for my wedding years ago and want to sell some of it off.

[Anonymous]

Any custom jeweler will buy the gold. Years ago I sold some old chains at Princess Jewelers. They weighed it and paid the spot price.

[Anonymous]

I took some old jewelry here: https://www.yelp.com/biz/alexandria-gold-and-silver-alexandria-2

The gentleman I dealt with was very quick and courteous, and I thought we got a very fair price.

[Anonymous]

Google it. There are tons of sites that explain the process. Don't expect spot price as PP mentioned. They don't make money buying it from you at spot (the then current market value) they will expect some spread (i.e. profit) from the transaction. Some sleazy places will pay well below spot - so you should do some homework ahead.

[Anonymous]

A Custom jeweler needs the gold. They don't arbitrage; they make their money on their custom work, not so much on the gold itself.

[Anonymous]

Anonymous wrote:A Custom jeweler needs the gold. They don't arbitrage; they make their money on their custom work, not so much on the gold itself.

I'm the pp who posted the link to the buyer in Alexandria. I asked several custom jewelers if they buy gold, and I was told that they do not. One jeweler had someone come through once a month or so who would pay for gold, but they didn't buy for their own use. I would think melting down used gold on site would make quality control difficult. I wouldn't think your average jeweler would have the facilities to refine gold themselves.